Court closes door on Symantec litigation
August 13, 2008
The US tax court has ruled in a landmark decision that details of a significant transfer pricing court case will not be made public.
The case pits Symantec, a software company, against the Internal Revenue Service in a dispute about how the taxpayer values its intellectual property. Symantec may have to pay around an eighth of its annual revenue in taxes, interest and penalties if its loses. In a rare move, the trial proceedings in the US Tax Court will be held in secret and the public record sealed.
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